Pfizer price target raised to $47 from $44 at BMO Capital

BMO Capital analyst Alex Arfaei raised his price target on Pfizer to $47 and kept his Outperform rating, citing the company’s Tafamidis potential prospects of $3.5B or more in sales by 2027. The analyst notes that Transthyretin Amyloid Cardiomyopathy, or ATTR-CM, is a “fatal, under-diagnosed heart disease with no approved treatments”, but the new method of diagnosis could ramp up from 1% to 20%, supporting the “robust efficacy” with “benign safety” offered by the company’s treatment. Arfaei further contends that Pfizer’s 3.5% dividend yield and 14-times forward earnings multiple make the stock attractive.

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